A reversal of the recent exodus from gold exchange-traded funds is unlikely for some time, according to market experts. Net outflows in commodity ETFs of $9.3bn in April marked the biggest monthly exit by investors from the asset class in its 10-year lifespan, according to a BlackRock report this month. The outflows almost doubled the previous record of $5.2bn, set in February.
A gold-selling frenzy has been blamed for the phenomenon and creating the mass departure from commodity ETFs, according to providers. On April 15, the market suffered its biggest one-day price drop since 1983.........................................Full Article: Source